Cramer on Bear Stearns -- Nailed it... or Blew it? Depends on What You Were Watching and When

F. Bruce Abel copyright 2008

Listen up. I consider this blog very important.

I was watching CNBC very closely last week. And when I'm watching I'm super watchful for Jim Cramer, both on his Stop Trading @ 2:45 p.m. and on his Mad Money, and when he is interviewed on the fly because of huge events occurring.

I thought on Monday of this week that Jim had nailed Bear on Friday by saying that Bear common stock would go to zero. He said it on Friday, March 14, during the day, I believe. He said it after dramatic moves by the Fed relating to Bear Stearns (I forget exactly what the moves were, in the chaos that has occurred since last week).

(I have it all on discs and will check them)

Now here's a guy who has done a persuasive Youtube short that Jim got it exactly wrong because on March 11th he said Bear was totally ok. And telling viewers not to sell it.

Click on the title above to see it, or cut and paste the following:

http://www.youtube.com/watch?v=niVjE5m4v2o

This brings up a very valid point: unless you are a minute-by-minute junkie/trader, you may have the opposite impression of what a person such as Jim Cramer is recommending.

The topic brings up the benefits and dangers of "doing" what an expert is telling you.

I remain a Cramer advocatge because I know him from way back and believe I can read a lot between the lines, and know from whence he comes.

But I am no longer trading.

What the YouTuber omits to say is that the world turned upside down vis-a-vis Bear Stearns on Thursday and Friday, and then on Sunday of course. But if you heard Jin Cramer on Friday you would have sold Bear on Friday and asked questions later, not held the stock.

Everything changed last Thursday, Friday and Sunday.